Tips on Buying a Fixer Upper

There are many people that are opting to purchase a home that, in it’s current state, would make Bob Vila cry.

For starters, fixer uppers could be purchased for a price so low it’ll make you giddy, while other benefits include being able to create a uniquely designed home suited to your own taste and potentially making a handsome profit if/when it comes time to resell.

Before you start scouring around for the perfect fixer upper, here are a few things to keep in mind.

Do-It-Yourself

Inspection

Before you buy, have a certified and experienced home inspector evaluate the property. You want to avoid getting yourself into a money pit so deep, you’ll forget what daylight looks like. There are many different types of inspections and professionals to help you create an accurate assessment of the property you’re eyeing.

Cost

When you are ready to put an offer on the fixer upper property of your dreams, you should consider the fair market value less any upgrade/repair costs. Consider if you can negotiate on the purchase price. Some buyers are eager to sell and will possibly be flexible.